InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,504 shares of the Wireless communications provider’s stock after selling 183 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of InterDigital worth $2,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of InterDigital by 3.2% in the 3rd quarter. Raymond James & Associates now owns 35,359 shares of the Wireless communications provider’s stock valued at $5,008,000 after purchasing an additional 1,099 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of InterDigital during the 3rd quarter worth $257,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at $568,000. Nisa Investment Advisors LLC lifted its position in InterDigital by 58.8% during the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock valued at $89,000 after buying an additional 233 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of InterDigital by 17.0% in the third quarter. New York State Teachers Retirement System now owns 32,543 shares of the Wireless communications provider’s stock valued at $4,609,000 after buying an additional 4,737 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Price Performance

IDCC stock opened at $209.91 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.39 billion, a PE ratio of 17.43, a P/E/G ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a one year low of $95.33 and a one year high of $218.76. The firm has a 50-day moving average of $193.54 and a two-hundred day moving average of $170.90.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.93%.

Insider Transactions at InterDigital

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the completion of the sale, the chief executive officer now owns 158,652 shares in the company, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the sale, the chief financial officer now owns 102,555 shares of the company’s stock, valued at $22,070,861.55. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,134 shares of company stock valued at $4,678,770 in the last three months. Corporate insiders own 2.30% of the company’s stock.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.